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  Figure 1. Geology and Drill Holes click to enlarge
|  The Antilla Copper-Molydenum project is located 140 km southwest of the City of Cusco in the Apurimac Region of Southern Peru. The centre of the project area lies at UTM coordinates 8,414,000N and 718,500E. The project is accessed via the main Cusco to Nazca highway and the unpaved main access road to the small village of Antilla. The project was acquired by Panoro in 2007 and is 100% owned by the Company. The Antilla project has a global inferred resource estimate of 154.4 million tonnes at an average grade of 0.47% copper and 0.009% molybdenum. The resource is hosted only on the East Block and includes a higher grade zone of 70.4 million tonnes at an average grade of 0.56% copper and 0.011 molybdenum. The resource estimate was carried out by AMEC (Peru) S.A. and the details are available to see at the link (http://www.panoro.com/i/pdf/160972-Amended-Technical-Report.pdf). The resource estimate has been completed based on the results of a total of 67 drillholes, including 48 drillholes from the Company's exploration program completed in December 2008. The mineral resource is contained by a conceptual life-of-mine pit shell and is above a cut-off grade of 0.25% copper. A potential starter pit within the conceptual life-of-mine contains 15 million tonnes of resource at a grade of 0.72% copper and 0.017% molybdenum with a stripping ratio of 0.9 and provides opportunity to improve the economics of a future operation. At a nominal 20,000 tonnes per day open pit operation the East Block would have a mine life of 21 year mine life with a stripping ratio of 2.5. The potential to increase the resource at the Antilla project includes a number of targets. Firstly, the potential for the extension of the supergene sulphide mineralization in the East Block to the north and northwest was identified during the 2008 exploration program. Secondly, in the West Block, located 2.5 km from the East Block, the potential exist for additional supergene sulphide mineralization similar to the East Block based on the presence of chalcocite in the previously drilled holes in the area with some drill intervals assaying above 0.3% copper particularly in Drillhole ANT-13, 15, 16S and 6B. Thirdly, the presence of higher grade hypogene copper mineralization in both the East and West Blocks remains to be tested. View Restated, Amended Technical Report for the Antilla Property (PDF, 3.32 Mb) Photo Gallery
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